Cyberattacks have led to the downfall of several businesses across various industries. Below is a list of companies that have ceased operations or filed for bankruptcy due to cyber incidents:
1. Stoli Group USA: In November 2024, the U.S. division of Stoli Group, known for Stolichnaya vodka, filed for bankruptcy following a severe cyberattack in August that disabled key systems, leading to significant operational disruptions.
2. KNP Logistics: In 2023, KNP, a 150-year-old logistics company, suffered a ransomware attack by the Russian-based Akira group. The breach compromised critical financial data, and despite efforts to recover, the company was forced to shut down within three months, resulting in 730 job losses.
3. United Structures of America Inc.: In May 2019, this Texas-based steel structure manufacturer experienced a ransomware attack that encrypted essential data and software used in manufacturing. The company filed for bankruptcy as a direct consequence of the attack.
4. National Public Data: A massive data breach exposed personal information of millions, leading to multiple class-action lawsuits and regulatory investigations. The legal and financial repercussions forced the company into bankruptcy.
5. Code Spaces: In 2014, this code-hosting service suffered a devastating DDoS attack followed by a ransom demand. When the company attempted to regain control, the attacker deleted critical data and backups, leading to the company’s closure.
6. Altegrity: The parent company of USIS, a government contractor providing background checks, filed for bankruptcy in 2015 after a cyberattack compromised sensitive data, leading to loss of contracts and revenue.
7. CellerateRX: A cyberattack in 2017 led to a significant data breach, causing the company to lose clients and eventually shut down operations.
8. Groove HQ: In 2016, this customer service software provider experienced a data breach that compromised customer information. The resulting loss of trust and business led to the company’s closure.
9. MyBizHomepage: A cyberattack in 2008 led to significant data loss and operational disruptions, forcing this financial services company to cease operations.
10. Norsk Hydro: In 2019, the Norwegian aluminum producer suffered a ransomware attack that forced several plants to halt operations. The company incurred significant financial losses but managed to recover without paying the ransom.